Ownership: Fee Simple
Current Price: $3,000,000
Sold Price: $3,000,000
Status: Closed
List Date: 2020-05-12
Assessor's Map #: 30
Legal Description (Abbrev): W CITRUS AC MCR 24/17 LOT 181 EX S 50F OF W 150F & ALSO S 5.17F OF E 102F OF ABAND ALLEY P/D 14849 -
Assessor's Parcel #: 4
Add'l Parcels: Yes
Tax Municipality: Phoenix
Census Tract: 110901
Taxes: 12899
Legal: W CITRUS AC MCR 24/17 LOT 181 EX S 50F OF W 150F & ALSO S 5.17F OF E 102F OF ABAND ALLEY P/D 14849 -
Marketing Name: Vara Apartments
Map Code/Grid: P35
House Number: 2922
Compass: N
Street Name: 35TH
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85018
Zip4: 7415
County Code: Maricopa
Subdivision: WEST CITRUS ACRES
Assessor Number: 127-30-004
Tax Year: 2019
# of Buildings: 3
Uncvrd Parking Spcs: 0
Lot Size Dimensions: 21,115
Total # of Units: 21
Elementary School District: Creighton Elementary District
High School District: Phoenix Union High School District
Elementary School: Creighton Elementary School
Jr. High School: Creighton Elementary School
High School: Camelback High School
Year Built: 1968
Zoning: R-4
Range: 3E
Section: 25
Township: 2N
Lot Number: 181
Annual Elec Exp: 1740
Annual Gas Exp: 0
Annual Ins Exp: 4100
Annual Land Lse Exp: 0
Annual Landscape Exp: 1200
Annual Legal & Acctg: 0
Annual Mgmt Exp: 13200
Annual Trash Exp: 1200
Annual Wtr/Swr Exp: 8400
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 42739
Other Income: 3000
Vacancy Allowance: 0.03
Adjusted Gross Inc: 233091
Cap Rate: 5.22
Down Payment: 0
Equity: 3650000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
No Pool: 1
Barbecue: 1
Other: 1
See Remarks: 1
Central Air: 1
Chiller System: 1
Landscape Water System: 1
Desert Landscaping: 1
Partially Fenced: 1
Cable TV Available: 1
Security Light(s): 1
Electricity: 1
Cable TV: 1
Free-Standing Range: 1
Refrigerator: 1
Disposal: 1
Microwave: 1
Washer/Dryer: 1
SRP: 1
Individual Meter: 1
Water: 1
Sewer: 1
Electric: 1
Trash Collection: 1
Landscaping: 1
Conventional: 1
1031 Exchange: 1
# 1 Bedroom Units: 19
Avg Rent: 925
Avg SqFt: 700
# Baths: 1
# 2 Bedroom Units: 2
Avg Rent: 1100
Avg SqFt: 850
# Baths: 1
Loan Type: Exchange
Loan Years: 30
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Cross Street: 35th Street and Thomas
Directions: East on Thomas Rd, North on 35th St.
Geo Lat: 33.481544
Geo Lon: -112.006843
Off Market Date: 2020-09-25
Under Contract Date: 2020-08-11
Close of Escrow Date: 2020-10-09
Sold Price: $3,000,000
Gross Annual Sch Inc: 237300
Net Operating Income: 190352
Project Type: 13 - 24 Units
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Concrete; Sealed
Sale Includes: Land & Building
Community Features: No Pool; Barbecue; Other; See Remarks
Exterior Amenities: Landscape Water System; Desert Landscaping; Partially Fenced; Cable TV Available; Security Light(s)
Appliances Included: Free-Standing Range; Refrigerator; Disposal; Microwave; Washer/Dryer
Heating: Central
Cooling: Central Air; Chiller System
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP; Individual Meter
Gas: None
Parking Features: 1 Space/Unit; Paved
Owner Pays: Water; Electric; Trash Collection; Landscaping
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Owner
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
New Financing: Conventional; 1031 Exchange
Environmental: None
